A total of 1,286 resale flats were sold last month, down 8.6 per cent from the 1,407 transacted units in December 2015, SRX Property said.
SINGAPORE : The resale prices of Housing and Development Board (HDB) flats fell 0.5 per cent in January, the first decline in seven months, SRX Property said on Thursday (Feb 4).
Prices of three- and four-room flats fell by 0.5 per cent and 1 per cent, respectively. In contrast, five-room and executive flats rose by 0.2 per cent and 1.4 per cent, respectively, the flash estimates showed.
Overall resale prices were down 1.3 per cent compared to a year ago, SRX Property said.
A total of 1,286 resale flats were sold last month, down 8.6 per cent from the 1,407 transacted units in December 2015. However, compared to a year ago, resale volume was up 2.6 per cent, it added. Read more >>
SINGAPORE : “Banks benefit when rates are rising. We believe that they will continue to rise throughout 2016 in Singapore, which is positive for the banks,” says the head of Equity and Credit for Asia-Pacific at UBS Wealth Management.
Singapore property prices could fall by 4-6% a quarter, signalling a further correction in the market.
Going by past correlation studies, it is highly probable that the recent decline in the domestic stock market could forecast further correction in property prices over the next few months, a report by investment management firm JLL showed. Historically, property market movements mirror stock market behaviour after one or two quarters.
Chua Yang Liang, JLL’s Head of Research, South-east Asia, said: “Downside risks in the Singapore economy from external shocks, leading to higher unemployment levels, a weaker Singapore dollar and rising domestic interest rates – similar to the Asian Financial Crisis (AFC) conditions – could lead to a sharper-than-desirable price correction in the property market.” Read more >>
Singapore – Market stability is key when assessing property cooling measures and the government will review these policies when the risks are “less or manageable”, Home Affairs and Law Minister K Shanmugam said on Wednesday.
Adding that he was not in a position to make government announcements unilaterally, Mr Shanmugam said: “When the finance minister and the national development minister see that those risks are less or manageable, then they will relook at the policies. Whether they will change or they will not change, it’s not for me to go and say.” Read more >>